Wednesday, November 2, 2011

Technical of gold Nov 1


GOLD (Spot) intraday: the bias remains bullish.

Pivot: 1704.00
Our Preference: LONG positions above 1704 with targets @ 1732 & 1745.
Alternative scenario: The downside penetration of 1704 will call for a slide towards 1692 & 1681.
Comment: the RSI broke above a declining trend line.

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